| 抄録（英）： |
While local railways are said to have their own inherent existence values superior to buses, prior studies have not quantified these values sufficiently. This paper focuses on three different local railways in Japan, and tries to estimate their existence values quantitatively using the contingent valuation method (CVM). The premium value of railways relative to buses is estimated at around 20 percent in two cases, for the Toyama Light Rail and Ohmi Railway, and at more than 10 percent for the Wakasa Railway. It is also shown that people, including those who hardly use railways at present, are willing to pay 2.9 percent more on the Ohmi Railway and 6.0 percent more on the Wakasa Railway if rail services become 1.5 times more frequent.
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